The problem with Genesis mining by tommycordero

mining · @tommycordero · Mar 22 '17 (edited)

$0.48

The problem with Genesis mining

There's some dude right here on Steemit that is posting daily about this mining company that has been said to be a scam for some time, the funny thing is I've noticed this person is getting a lot of people interested in crypto so his efforts may not be a total loss.

<center>https://i.supload.com/HkxixgHehe.jpg</center>


You will notice that there's a lot of new people joining with these affiliate codes offering 3% off on a mining contract. Having had a good experience mining with Hashflare I decided to give Genesis a try and this is what I gather from them so far.

The likelihood is they are not really mining, but even if they are that doesn't mean they are not a scam. The way Genesis is screwing people over is by sending those daily payouts because each of those will make you incur in fees. Now, I don't know how much they are keeping, but what I do know is that there's no reason to force someone to take daily payouts if you wave the responsibility of looking after their earnings from the company.

<center>![](https://steemitimages.com/DQma4ofoc3Ra81GHFTrQ9MBn3F9KvuFATGCgEv6gUt2Uyav/image.png)</center>

For about a week I hadn't registered a wallet with them hoping to avoid it, then I got curious as to whether they would actually pay me. They were holding my earnings up until the point in which I used a wallet, when I was done with the experiment I wanted to remove the wallet so that I could avoid the fees and just withdraw every month or so.

Their system won't let you remove the wallet, and if you ask them to remove it they will tell you that they can't when this is not true. However, they will not miss a chance to remind you about their affiliate program all while telling you exactly how you're getting screwed over.

I have no doubts that I will get my initial investment back for I expect Dash to grow much bigger than it is today, even if this is hard to believe for some still, it's happening. But I could had found much more benefit with the other mining company that will let me withdraw manually. 

With Hashflare about 6-7 months into the one year contract I already had my investment back and some, so I will focus on getting referrals for them because Genesis is just going to get me to lose followers over recommending their poor service.

While in the subject of referrals I already got my second from Changelly, this time over an ETH purchase, which is funny because I don't think I've said the first good thing about Ethereum on this blog. 

<center>![](https://steemitimages.com/DQmTHxdKogWpbuAFgffj8DSgc7JykMzGsjuHYmyQNzcvN99/image.png)</center>

No complains from anyone yet so I would say this is a pretty safe exchange if you wish to use debit. The only thing I'm finding a little weird is that a few days ago the option to exchange from dollars to whatever else was available, now I can only see Euros. I'm still sharing the link to convert from dollars so I'm hoping that's working out for those using it.

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<center>Now:</center>

<center>![](https://steemitimages.com/DQmUrdDDkqyoGZqq4v2qRtguKgpDjBSV1v9HBCmtU4H5SpE/image.png)</center>



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<center>I ❤️ D!</center>

 <center>XdVK99T8SYWJL4CAUdN72djPwUgs16QHBJ</center>

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<center>https://i2.imgflip.com/1lpvio.jpg</center>

### <center>[Read more about the new Mastercard Dash debit card being worked on!](https://steemit.com/mastercard/@tommycordero/charlie-shrem-s-proposal-for-dash-gets-approved)</center>







--------------------------------------------------


<center>[Wanna buy Dash with debit?](https://changelly.com/exchange/USD/DASH/1?ref_id=124ffa7a7947)</center>
<center>[Trading Dash in cash?](http://dashous.com/)</center>
<center>[Banking within the US?](https://wallofcoins.com/en/orders/)

<center>[Don't have a wallet yet? This one's dummie proof!](https://jaxx.io/)</center>


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<center><a href="https://hashflare.io/r/93D58E45"><img src="https://cdn.hashflare.eu/banners/en/B6new728x90Eng-Ko.gif?v=4" alt="HashFlare"></a></center>

👍 hr1, engagement, thecyclist, tommycordero, jang, dailybitcoinnews, jlufer, berniesanders, robertdurst10, ardina, steemfeed, sqube, firesteem, gabbspitargue, sergey44, frans10, michaellamden68, juanmiguelsalas

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@ionbrains · Mar 23 '17 (edited)

No Risk, No Reward. I have been watching Genesis Mining for about 1year1/2. I only took action for the DASH x11 2 yr Mining Contracts; which to my knowledge don't have fee's aside from the difficulty level. The Monterey system we live in is a scam, the banks are a scam! At least from GM we stand a chance to even make money. Though, I never invested on anything online since 2013(out of pocket)... Everything I use online now is purely profits. I would never upgrade sha256 bitcoin mining contracts.... That is a waste of time. I can earn bitcoins to easy from different ventures. By the way great view. Thanks for sharing!

👍 tommycordero

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@faraicelebr8 · Mar 23 '17 (edited)

I think Genesis are legit as far as REAL mining goes. They have a ton of videos (which can be found on Youtube) of their ACTUAL mining farms. I  mean real deal videos... not some shady looking photos without logos as purported by some pseudo-mining companies.

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@williams858 · Mar 23 '17

100% faith in G/M. . you need to do weekly or regular upgrades tho to make the most of it.

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@juanmiguelsalas · Jul 26 '17 (edited)

My last payment recieved from Genesis Mining was....
![Genesis Mining.png](https://steemitimages.com/DQmeUGZH1bFvGmD9bThtR8V5qdozeadUGmZTxGdjJFYL2z3/Genesis%20Mining.png)

Til then nothing, niente, nada.... I sent them a mail and they told me that it was a problem, that in 48 hours will be everything ok, blablablablabla ... still waiting....

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@reebo · Jul 30 '17

$0.03

My payments have been delayed from Genesis Mining as well. I am getting some payments but they are a week behind and not all contracts are paying out. LTC is 6 days behind, DASH is 7 days behind, ETH is 8 days behind. Genesis told me 5 days ago that all the problems were fixed, but it is obvious that is not true.

👍 juanmiguelsalas, xodo

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@grivera · Aug 14 '17

If you ever reinvest / upgrade you can use my code : BHPKoi
Let me know about it and i will use yours in return :)

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@teofilo · Nov 23 '17

🍀🔆🍀 
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. Use o Código >>>>>> (((((( U5XWLu )))))) <<<<<< e ganhe 3% de desconto! 
(((((( Mineração de Bitcoin  ILIMITADA _ TH/s _ Mining Start 15.03.2018 _ ))))))
. Mineração de Criptomoedas na nuvem! Genesis Mining   PAGA   DIARIAMENTE... 
. Escape do Barulho e contas de Eletricidade dispendiosa...
. Parabéns pelo canal! 
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🍀🔆🍀

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